Turkey can benefit from US sanctions on Iran: Diplomat

The new U.S. sanctions against Iran can have positive consequences for Turkey, an Iraniandiplomat has told state-run Anadolu Agency.

“This is the best opportunity for Turkish companies to increase their presence in Iran. They can use this benefit to conquer the part of the market that was acquired by European and Chinese companies,“ Seyed Hafez Mousavi, the commercial counselor for the Iranianembassy in Ankara, said.

On Nov. 5 the United States re-imposed sanctions targeting Iran’s energy and financial sectors along with its shipping industry. More than 700 individuals, entities, aircraft, and vessels were blacklisted, including 50 Iranian banks and their domestic and foreign subsidiaries.

Washington granted China, Greece, India, Turkey, Italy, Japan, South Korea and Taiwan a 180-day waiver to import Iranian oil, which eased worries of supply reduction in the global markets after the sanctions went into effect.

Mousavi asserted that Turkey and Iran can expand cooperation in sectors such as tourism and investment.